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March 05, 2024

Credit bureau, BSP to celebrate Credit Consciousness Week

The Credit Information Corp. (CIC) has partnered with the Bangko Sentral ng Pilipinas (BSP) to hold special webinar series to provide helpful tips on how to better manage one’s debt as the country celebrates the Credit Consciousness Week.

The webinar series titled “#SANAALL, inaalagaan: The CIC Credit Report and effective loan management amid COVID-19” is scheduled on April 22 and May 6.

The country’s sole public credit registry and repository of credit information the webinar will also focus on the importance and relevance of the CIC Credit Report in maintaining and improving one’s creditworthiness.

“We, in the CIC, believe that we can collectively move away from the enduring stigma on indebtedness through the adoption of CIC Credit Reports in managing our financial life,” CIC president and CEO Ben Joshua Baltazar said.

This special webinar series is in line with this year’s celebration of the Credit Consciousness Week pursuant to Presidential Proclamation No. 568, series of 1995.

The webinar will feature resource speakers including CIC Chief Marketing Specialist Romeo Ofrin and BSP Bank Officer V Clarence Joseph Zosa.

“This Credit Consciousness Week, the CIC aims to emphasize the crucial roles of responsible borrowing and access to credit in economic recovery, and to promote the benefits of our credit information system to both borrowers and lenders,” Baltazar said.

Through the CIC credit reports, Baltazar explained financial institutions can more effectively implement risk-based lending to minimize risks while maximizing returns.

“On the borrowers’ part, through the information contained in their credit reports, and through the educational CIC Academy webinars, they will be informed of their credit standing, and be able to work towards building or improving their creditworthiness,” he added.